• South African MTI exit scam
    Cryptocurrencies,  Regulation,  Uncategorized

    South African crypto exchange may have exit scammed $644M

    Mirror Trading International’s customers ran to authorities after finding themselves unable to withdraw funds

    Cape Town High Court granted a provisional liquidation order against MTI on Tuesday. The measure was taken following two complaints filed last week by the firm’s customers who found themselves unable to withdraw their funds.

  • Oyster Protocol exit scammer arrested
    Alt coins,  Regulation

    Oyster Protocol founder arrested for exit scam, tax evasion

    The U.S. Securities and Exchanges Commission brought separate civil charges against Amir Bruno Elmaani for failing to register his Oyster Pearl tokens as securities

    Crypto-powered data storage platform Oyster Protocol was an exit scam that brought founder Amir Bruno Elmaani—also known as Bruno Block—a lavish lifestyle featuring several yachts, according to the U.S. Department of Justice.

  • Binance recovers Wine Swap funds
    Cryptocurrencies

    Binance recovers Wine Swap exit scam’s proceeds

    The exchange identified and contacted the scammer the day after he stole more than $345,000, forcing him to return the funds

    A Binance spokesperson said on Nov. 4 that the exchange had recovered 99.9% of the funds stolen in the exit scam conducted by automated market maker Wine Swap. Wine Swap launched on the Binance Smart Chain (BSC) on Oct. 13 as an automated market maker platform. In under one hour after its launch, the developers stole over $345,000 in customer funds.